is there some sort of statue of limitations for the time that they can bill you for the rest? It never has showed up on his credit report, nor did they conctact him prior to this. Can they legally still collect the money and how do we know how much the truck was sold for?
2006-07-31 13:22:29 · 4 answers · asked by Kari B 1 in Cars & Transportation ➔ Buying & Selling
North Dakota laws are very pro business at the expense of regular people. They can try to collect, depending on how much, it might be cheapest to just pay it other wise, get a lawyer.
2006-08-03 05:08:06 · answer #1 · answered by Paul K 6 · 0⤊ 0⤋
States can be different. In at least one state, liens are good for more years than most adults are going to live, and ten years is common. In some states, it can be renewed after the ten years is up.
The problem here, and no disrespect intended, is that he apparently assumed he could just not pay and it would be all right. My suggestion is that he start paying it off or this will harm his credit as long as he lives -- unless he can find an attorney who can state a reason he doesn't have to pay it and I really doubt that.
2006-07-31 20:30:37 · answer #2 · answered by retiredslashescaped1 5 · 0⤊ 0⤋
Breach of contract for sale under the UCC: 4 years.
All other actions based on a contract, obligation or liability, express or implied: 6 years.
NOTE: A new written acknowledgement or promise or voluntary payment on a debt revives the statute of limitations for the debt.
Judgments: 10 years.
2006-07-31 20:30:48 · answer #3 · answered by Vulcan 1 5 · 0⤊ 0⤋
No, creditors can track you down and still demand payment. Get him to a lawyer...Quick.
2006-07-31 20:26:13 · answer #4 · answered by Silverstang 7 · 0⤊ 0⤋